Oglesby, IL Cost of Living

Oglesby cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

A general overview of the cost of living index for Oglesby, IL is displayed above. In Oglesby, IL, the overall cost of living index is 89, which is 10% lower than the Illinois average and 11% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Oglesby, IL, the city's goods and services are equal to the Illinois average and 4% lower than the U.S. average.

Did you know?

The cost of living in Oglesby is 10% lower than the Illinois average.

The cost of living in Oglesby is 11% lower than the national average.

The cost of housing in Oglesby is 34% lower than the national average.

Illinois general sales tax is 23% higher than the national average.

Illinois state income tax is 69% higher than the national average.

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Compare Oglesby, IL Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

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Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Oglesby, IL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Oglesby, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Oglesby, IL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$65,417

$5,451

$1,526

$1,963

Renters

$21,429

$1,786

$500

$643

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Oglesby, IL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Oglesby, IL homeowners, is $65,417. This would allow for a maximum of $1,526 per month to be spent on housing costs. For renters, the median monthly income is $21,429 which would result in a maximum of $500 to be spent on rental costs.

Illinois Sales Tax

State

General Sales Tax

With Max Surtax

Illinois

6.25%

9.75%

Illinois Income Tax

State

Income Tax (Low)

Income Tax (High)

Illinois

3.75%

3.75%

For those who live in Oglesby, IL and want to know what the true cost of living is, they ought to look at both the Illinois income tax rate and the Illinois sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Illinois, the sales tax is 6.25%, while the most you'll pay in surtax is 9.75%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Illinois, the income tax rate ranges between 3.75% to 3.75%.

Goods & Services

Item

Oglesby

National avg.

Difference

Haircut

$15.11

$15.56

2.9%

Beauty Salon

$21.67

$36.11

40.0%

Toothpaste

$2.14

$2.47

13.3%

Shampoo

$0.81

$0.96

15.7%

Movie

$6.18

$10.13

38.9%

Bowling

$3.63

$4.74

23.4%

Groceries

Item

Oglesby

National avg.

Difference

Ground Beef

$3.58

$3.98

10.1%

Fried Chicken

$1.44

$1.41

2.6%

Milk

$1.39

$2.06

32.8%

Potatoes

$3.08

$2.98

3.2%

Pizza

$8.99

$9.47

5.1%

Beer

$8.88

$8.79

0.9%

Health Care

Item

Oglesby

National avg.

Difference

Optometrist

$126.17

$101.04

24.9%

Doctor

$103.92

$107.44

3.3%

Dentist

$88.83

$90.42

1.8%

Ibuprofen

$8.14

$9.28

12.2%

Lipitor

$437.66

$426.50

2.6%

Housing

Item

Oglesby

National avg.

Difference

Home Price

$116,000.00

$175,700.00

34.0%

Avg. Mortgage Payment

$1,181.59

$1,133.23

4.3%

Apartment Rent

$614.00

$920.00

33.3%

Transportation

Item

Oglesby

National avg.

Difference

Gasoline

$1.99

$1.99

0.1%

Tire Balancing

$43.30

$45.76

5.4%

Utilities

Item

Oglesby

National avg.

Difference

All Electricity

$183.30

$163.81

11.9%

Phone

$29.99

$28.39

5.6%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

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